HUD: Residential Home Sales Increase 29 Percent from May 2012

Sales of residential houses have increased at a rate of 29% since May of last year. In May 2013, single-family homes sold at an annual rate of 476,000, which is 2.1% above the April sales rate of 466,000. This significant change in pricing raises the question of whether real estate will stabilize in 2014 and if they will eventually lower.